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From 2007 through 2012, the firm has served as senior manager in connection with tax-exempt and taxable municipal financings exceeding $6.5 billion. The firm's banking staff offers expertise in all major areas of tax-exempt and taxable municipal finance. READ MORE ›

Our book, Strategic Financial Analysis for Higher Education, produced in partnership with KPMG and Attain and now in its seventh edition, has been a valuable reference tool for financial managers, trustees, and other interested parties associated with not-for-profit institutions. READ MORE ›

Prager & Co., LLC was established in 1987 and has grown into a 35-person national firm that provides investment banking, underwriting, financial advisory, and strategic consulting services to municipalities, government agencies, higher education institutions, not-for-profit organizations, foundations, and social service agencies.READ MORE ›

As a consequence of the financial backing of our limited investment members coupled with our net capital position, the firm is able to senior-manage or co-manage bond issues of virtually any size. READ MORE ›

Weekly Market Update

10-YEAR TREASURY YIELD BREAKS 3%

Thursday, April 26, 2018

This week, the 10-year U.S. Treasury yield exceeded 3% for the first time since 2014 amid increased supply and more predicted rate hikes by the Federal Reserve. The Treasury department issued $96 billion of notes this week with yields approaching multi-year highs, while the U.S. budget deficit will surpass $1 trillion by 2020, two years faster than expected. Further, the Fed has forecast two additional rate hikes in 2018, while the market is pricing in more potential increases. In the municipal market, AAA benchmark yields increased 20 basis points on the long end of the curve over the past week. Additionally, municipal bond mutual funds had outflows of nearly $800 million last week.

In Other News

Eastern Michigan University entered into a concession agreement for its Ypsilanti campus parking operations with Preston Hollow Capital, in exchange for a $55 million upfront payment and $4 million in campus parking enhancements.

Google has matched Beyonce's donation of $100,000 to four Historically Black Colleges and Universities. Texas Southern University, Fisk University, Grambling University, and Morehouse College will each receive $25,000 toward scholarships.

The Commission on College Basketball recommended significant changes to NCAA Division I basketball, including ending the "one-and-done" rule, harsher penalties on violations, and cutting down on recruiting events hosted by apparel companies.

Rating Agency Update

Moody's affirmed Rollins College's A2 rating. The outlook is stable.

Moody's assigned Baa1 to Allegheny College's Series 2018A and 2018B Refunding Bonds. The outlook is revised from stable to negative.

Moody's affirmed Washburn University of Topeka's A1 rating. The outlook is stable.